richardg

Anyone know the process for service of notice to leaseholders when you are intending to sell the reversionary interest in a residential block?

My question refers to a building with a commercial element, ableit ground floor only and to others with no commercial element. Also, can anyone point me in the right direction to find a list of qualifications (ie to determine whether or not Notices under L&T Act are required or not - I am unsure whether this applies to building with x number of units etc etc)

Is this a job for a solicitor, a surveying practice or 'just' a competent person?

TIA

Deep Singh

Hi. I'm not trying to offer 'expert' advice because I'm not one, but d'ont you have to offer the leaseholders the freehold under the leasehold reform act?

richardg

that's right and there is certain criteria which determines whether you do or not, depending on the proportion of the building which is residential as opposed to commercial. i think we're in the situation where we need to serve notice on the tenants under section 5 of the L&T Act 1987 but don't know how this works.

will probably appoint a solicitor the first time, see how it goes and if it's a job for a 'competent person' may consider whether this is something we can handle in-house next time

thanks for the reply though

Deep Singh

Good luck with it

richardg

thanks

BTW, if anyone on here buys ground rent investments, i'd be pleased to hear from you!